CCP doing FMG a big favour, to their own detriment as usual.
Suppressing the IO price to around $100 is enough to keep FMG exceedingly profitable ... But not enough to encourage new mines or higher cost mines to open which is a goldilocks zone for FMG.
What the CCP should actually want is a significant 2-3 year surge in the IO price to encourage new investment followed by a 10-15 year supply dump which totals the industry.
But as usual the CCP will end up with the opposite.
Iron ore price, page-48848
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$19.47 |
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